
ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More

ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More

YBSM PARTNERS
YBSM Partners is a Certified Accounting Firm with a difference. Providing Accounting, T...
Frequently asked questions
What specific services do accountants for landlords offer in East London?
Accountants for landlords in East London typically offer a range of services including preparing and filing Self Assessment tax returns, advising on allowable expenses, calculating capital gains tax on property sales, and managing VAT obligations. They can also assist with tax planning for multiple properties, setting up and running a limited company for your rental business, and ensuring compliance with HMRC regulations. Many firms also provide monthly bookkeeping and annual accounts preparation.
How can an accountant help me with my HMRC Self Assessment tax return?
An accountant can ensure your Self Assessment tax return is accurate and submitted on time, avoiding any late filing penalties. They will identify all allowable expenses you can claim, such as repairs, insurance, and professional fees, thereby reducing your tax liability. They can also advise on how to report rental income correctly, including any income from property letting platforms, and help you respond to any queries from HMRC regarding your return.
What is the difference between an ACCA and an ICAEW accountant?
Both ACCA (Association of Chartered Certified Accountants) and ICAEW (Institute of Chartered Accountants in England and Wales) are prestigious professional bodies. ACCA has a global focus and is popular for its flexibility, whilst ICAEW is often seen as more traditional and is highly regarded in the UK. Both require rigorous exams and practical experience. The main difference lies in their global reach and specific course content, but both ensure high professional standards and ethical conduct.
Do I need to be VAT-registered as a landlord, and can an accountant advise me?
VAT registration is compulsory if your total taxable turnover exceeds the current threshold, which for property rental is generally based on your rental income. However, most residential property rentals are exempt from VAT, so you may not need to register. An accountant can review your specific circumstances, including any commercial property letting, and advise on whether registration is necessary or beneficial. They can also help you with VAT returns if you are registered.
How can an accountant help me with Corporation Tax if I use a limited company?
If you hold your rental properties within a limited company, you will be subject to Corporation Tax on your profits. An accountant can prepare your company accounts and Corporation Tax return, ensuring you claim all available reliefs and deductions. They can also advise on the most tax-efficient way to extract profits from the company, such as through salary or dividends, and help you plan for the long-term financial health of your business.
What should I look for when choosing an accountant for my rental properties?
When choosing an accountant, look for someone who is a member of a recognised professional body like ACCA, ICAEW, or AAT, as this ensures they have the necessary qualifications and adhere to strict standards. Experience with landlord clients is crucial, so ask about their familiarity with property tax issues. It is also important to find an accountant who communicates clearly, is responsive, and offers a fee structure that fits your needs. Reading reviews and comparing services can help you make the right choice.
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